Pesapal Tanzania Limited has been licensed as a Digital Payment Systems Provider in Tanzania under the National Payment System Act, 2015.
The license granted by the Bank of Tanzania will give digital payment provider the ability to provide a range of secure, convenient, and innovative digital financial products and services for its customers across Tanzania, which include providing online and point-of-sale payments seamlessly.
The authorization by the Bank of Tanzania is the most recent of a string of successes in the African Market where Pesapal already operates. The digital payment provider has received similar regulator approval in Kenya and Uganda and has a growing reputation as the largest Fintech in East Africa.
“We share the philosophy of the Bank of Tanzania in that we believe that technology is a key driver for economic growth and allows us to drive digital inclusion in Tanzania. At Pesapal, our goal is to leverage technology to build payment solutions that simplify how consumers and businesses get paid. More than that, we want to provide Tanzanians with access to Digital Financial products which are well suited for enterprises, SMEs, online merchants, individuals, and others currently underserved by traditional payment mechanisms,” Bupe Mwakalundwa, Pesapal Tanzania Country Manager.
Read also; Pesapal Receives License from Bank of Uganda.